Long Term Letting Your Property
Thinking of renting your property in Mallorca? We can help…
Unique Mallorca can give you all the help and advice that you need about renting out your property.
We can help you decide which is right for you – renting on a long term basis OR renting on a short term basis to holiday makers. We will provide you with an overview of the pro’s and cons of each.
Below is Unique Mallorca’s information and advice for landlords thinking of long term renting their properties:
With long term rental of your property, potential tenants will expect your home to be in a good state of repair and as such we recommend that it is freshly painted and that any furniture within the home is of a good standard.
Inventory and Storage
We recommend an inventory of any furniture and all household items to be checked at the end of each tenancy. The cost of any items missing or broken will be deducted from the security deposit at the end of each Tenancy. Our Unique Mallorca Property Management team will help you with this.
Repairs and Maintenance
As landlord you will be responsible for ensuring that your property is adequately maintained and that repairs are conducted. If you do not reside close to your property or if you prefer to be less involved, then Unique Mallorca have a team of professionals at hand at all times. Our experts will assist throughout the term of your rental.
Property management services
Usually your long term tenant will pay at least 2 months rental in the first month. This is usually 1 month up front and a minimum of 1 month ́s security deposit. Refundable upon their departure, this money is a guarantee for you to bind your tenant into the terms of the contract and to ensure they look after your home.
We recommend that for the duration of the rental, you transfer the utility bills over to the tenants own name and account. We can take care of this on your behalf.
When we have clients looking to long let a property in Mallorca, we always encourage potential tenants to offer rental fees in blocks of 3 months or more. We suggest small discounts for tenants who are able and willing to pay 3 months, 6 months or a full year upfront. This gives them an advantage at the same time as guaranteeing much more security for you, the property owner.
Use a lawyer wherever possible. Yes, we know this is extra cost and we will happily draw up a rental contract for you, but using your own lawyer or one of our recommended lawyers in Mallorca from the beginning can sometimes ensure savings later.
Please contact us today if you wish to start earning long term rental revenue from your home on the island.